Maltese Capital Management LLC Sells 16,000 Shares of Western Alliance Bancorporation $WAL

Maltese Capital Management LLC decreased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,000 shares of the financial services provider’s stock after selling 16,000 shares during the quarter. Western Alliance Bancorporation makes up about 2.4% of Maltese Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Maltese Capital Management LLC owned 0.17% of Western Alliance Bancorporation worth $16,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of Western Alliance Bancorporation by 43.5% in the third quarter. National Bank of Canada FI now owns 818 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 248 shares during the last quarter. Millennium Management LLC raised its stake in shares of Western Alliance Bancorporation by 168.9% during the 3rd quarter. Millennium Management LLC now owns 161,814 shares of the financial services provider’s stock worth $14,033,000 after purchasing an additional 101,643 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Western Alliance Bancorporation by 42.1% in the 3rd quarter. Focus Partners Wealth now owns 168,160 shares of the financial services provider’s stock valued at $14,571,000 after buying an additional 49,807 shares during the last quarter. Brevan Howard Capital Management LP raised its position in Western Alliance Bancorporation by 15.2% during the third quarter. Brevan Howard Capital Management LP now owns 39,611 shares of the financial services provider’s stock worth $3,435,000 after acquiring an additional 5,212 shares in the last quarter. Finally, Community Bank N.A. bought a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $37,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Monday, February 2nd. Jefferies Financial Group reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. Citigroup dropped their price objective on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. UBS Group set a $93.00 price target on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, TD Cowen cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a report on Monday, March 9th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.40.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $67.63 on Tuesday. The firm has a 50 day moving average of $86.75 and a 200-day moving average of $84.56. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $97.23. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $7.43 billion, a PE ratio of 7.75, a PEG ratio of 0.59 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.19. The company had revenue of $890.80 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.